NTUC Income Gro Flex Saver Review
The complete Pros and Cons on NTUC Income Gro Flex Saver
NTUC Income Gro Flex Saver gives you annual cash payouts from the second year onwards with flexible premium and policy terms to fit your goals. You are also covered against Accidental Death or TPD.
NOTE: NTUC Income Gro Flex Saver has been phased out and is no longer available. The latest updated and upgraded version is NTUC Income Gro Cash Flex.
NTUC Income Gro Flex Saver product details
- Life policy – Endowment and Saving policy
- Guaranteed acceptance – no health questions asked
- Premium Term; Choose a premium payment and policy term to fit your goals
- Save 5 years for a policy term of 10, 15, 20 or 25 years
- Save 10 years for a policy term of 15, 20 or 25 years
- Save 15 years for a policy term of 20 or 25 years
- Cash Payouts
- Start receiving annual cash payout guaranteed 5% of Sum Assured from the 2nd policy year onwards
- Spend the cash payouts as you wish or accumulate them at up to 3.25% per annum
- Capital Guarantee
- Upon policy maturity, all your premiums will be paid back on top of non-guaranteed bonuses
- Coverage
- Be covered against Death and Total and Permanent Disability (TPD) 105% of all premiums paid and 100% of all bonuses
- Accidental Death or TPD Coverage
- On top of the coverage, receive an additional 100% of Sum Assured against Accidental Death or Accidental Total and Permanent Disability
Read about: Endowment and Saving policy: How does it work?
Read about: Endowment and Saving policy: Is it the best option?
Features of NTUC Income Gro Flex Saver at a glance
Cash and Cash Withdrawal Benefits
Cash value: Yes
Cash withdrawal benefits: Yes
Health and Insurance Coverage
Death: Yes
Total Permanent Disability: Yes
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No
Health and Insurance Coverage Multiplier
Death: No
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No
Optional Add-on Riders
Cancer Premium Waiver (GIO)
Additional Features and Benefits
Yes.
For further information and details, refer to NTUC Income website. Alternatively, fill-up the form below and let us advise accordingly.
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Read about: Where do I start with financial planning
NTUC Income Gro Flex Saver may be suitable if you are looking for
NTUC Income Gro Flex Saver may potentially be a good fit if the following matters to you:
- Accidental Death or TPD insurance coverage
- A hassle-free application without medical underwriting
- Short to medium term endowment savings plan
- Annual payouts from the end of the fifth year that can be reinvested to grow in value
- To generate higher financial returns compared to bank accounts
- To save regularly over a period of time
- Liquidity or flexibility of withdrawal in your Insurance policy
NTUC Income Gro Flex Saver may not be suitable if you are looking for
NTUC Income Gro Flex Saver may potentially be a bad fit if the following matters to you:
- High insurance coverage for Death
- Insurance coverage for Terminal Illness, Early Critical Illness, Critical Illness, or Total Permanent Disability
- A one-time premium commitment with no further cash commitment
- Potentially higher financial returns compared to a pure investment product.
- Insurance policy with a high surrender value in the early years of the policy.
Read About: How can I accumulate a million dollar (Realistically)
Further considerations on NTUC Income Gro Flex Saver
- How is NTUC Income or NTUC Income Gro Flex Saver investment returns based on historical performance?
- How does NTUC Income Gro Flex Saver compare with Endowment policy from other insurance companies?
- Can NTUC Income Gro Flex Saver fulfill my financial, insurance, health, and protection needs?
The above information may not fully highlight all the product details and features on NTUC Income Gro Flex Saver. Talk to us or seek advice from a financial adviser before making any decision about NTUC Income Gro Flex Saver.
Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering to take up.
Read about: How can I accumulate a million dollar (Realistically)
Read About: 3 best Savings plans and endowment policies in Singapore (updated Jan 2023)
Where can I compare the payout and benefits of saving plans and endowment policies?
Before committing to an insurance policy, it certainly pays to make an effort to compare. Specific product features, benefits, and payouts will differ more than you think across insurance companies. Why regret only years later, when you find out that you are not getting the best insurance policy available for the premium paid?
Use our Compare NOW feature to receive the most competitive quotes on saving plans and endowment policies.
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Is NTUC Income Gro Flex Saver suitable for me?
Contact InterestGuru using the form below. Our panel of licensed financial advisers will advise accordingly, based on your financial profile and protection needs.
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